empty
 
 

30.05.202210:49 Forex Analysis & Reviews: EU plans to replace 2/3 of Russian gas by end of 2022

Exchange Rates 30.05.2022 analysis

According to the Financial Times quoting EU Energy Commissioner Kadri Simson, the European Union is reviewing contingency plans for disruptions to natural gas supplies.

Simson said that the EU might replace most of the natural gas imported from Russia by the end of 2022. However, the EU would face a serious challenge if it cut off Russia's energy supplies entirely.

The report notes that contingency plans are concerned with limiting gas supplies to industry. Households will not be subjected to gas rationing. Industrial companies consume 27% of the EU gas.

The European Union announced that it would replace 2/3 of Russia's gas supply by the end of 2022.

European gas prices are currently holding around the psychological level of $1,000:

Exchange Rates 30.05.2022 analysis

Russia is the largest EU supplier of natural gas and crude oil. However, hostilities in Ukraine were the reason for imposing sanctions on Russia. Consequently, they caused supply disruptions.

Russia continued to supply gas to its European customers as long as they were willing to pay for it under the new rules. However, it cut off gas supplies to Poland, Bulgaria, and Finland. This fact heightened fears that more EU countries could be hit.

The EU has been stockpiling gas mainly by a surge in LNG supplies in anticipation of possible disruptions. Moreover, EU gas consumption from the US hit record highs in the past few months.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Andrey Shevchenko,
Esperto analista di InstaForex
© 2007-2022
Approfittati subito dei consigli degli analisti
Deposita i fondi sul conto di trading
Apri un conto di trading

Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.




  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
In questo momento non potete parlare al telefono?
Ponete la vostra domanda nella chat.